Charlty number.. 271301 GREENWICH ISLAMIC CENTRE (WOOLWICH MOSQUE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) CONTENTS Page Raference and Admlnlstratlve Details of the Charity. its Trustees and Advlsèrs Trustees. Report Independent Auditors. Report on th& Flnancial Ststèments 9-12 statement of Financlal Activities 13 Balance Sheet 14 statement of Cash Flows 15 Notes to tha Financlal Statgments 16-30
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE} REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees Akinloye Jeleel Adelunji, Trustee lappoinled 22 October 2023) hAustafa Ainashe. Trustee (appolnted 22 Ootober 2023) Sw8léh Bocus. Trustee lappoinled 22 October 20231 RBkiba Luna, Trustee (appointed 22 October 2023) Abéirashid Mahvnud Yusuf, Trustee (appointed 22 Oclobor 2023) Guléd Abdullahi, Trustee lappoinled 22 October 20231 Abdullahi Mohamed Salim. Trusleelgppointad 22 October 20231 Alieid Abdi Hassan, Trustee lappointed 22 October 20231 Mohamed Hussein Mohamed, Trustee {appoinled 22 October 20231 F8rah Hussein Mohamed, Trusteé {appointed 22 Octobgr 2023) Abul Kalam, Trustee Tanvir Wadud, Trustee Zeinab Moalin. Trustee Mohammed Monlurul Ahasan, Trustee Zeinulabadin Sufi, Trustee Sanam Mia. Trustee Alibola Daod. Trustee Mohamod Jama, Trustee (resigned 22 Oclober 20231 Abdul Hamid Ismall. Trust88 Ireslgned 22 October 2023) Aided Elmi Ali. Trustee Iresigned 22 October 20231 Altaf Ismail. TrLJslee (resigned 22 October 20231 SaGdl Dahir, Trustee Iresignad 22 October 20231 Mohamed Salad Mohamed, Trustee {re5igned 22 October 20231 Abdulaaz Mohamed, Truste8 {resigned 22 October 2023) Abdalla Abdalla, Trustee {resigned 22 October 2023) Ahmed S Farah, Trustee Iresignod 22 October 20231 Ibrahiin Hassan-Add&, Trustee (resigned 22 O¢lober 20231 Charity reglstered nurnbgr 271301 Prlncipal offlce 131 Plurnstead Road London SE18 7DW Independent auditors And0 Consulting Ltd Chartered Certifled Acwunlants & Stslutory Auditors 128 Cily Road London EC1V 2NX Bankors B8rclays Bank PIC 8-9 Victory PsJrad8 Plumslea¢J Road London SE18 6FL HSBC Bank PIC 15 Wellinglon Stre81 Lond SE18 6PH Page 1
GREENWICH ISLAMIC CENTRE IWOOLWIGH P410SQUEI TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Truslees prcsent their annu81 report together with the audil8d financial slalemenls of the Greenwch Islarnic Centre (Woolwich Mosque) for the year 1 October 2022 to 30 September 2023. The Trustees confirm that the annual report and financial stat8ments of the charlly Comply with the Current statutory requirerllents, Ihe requlr&mènts of the charitys governing document and the piovisions ol the Statement of ReGommend8d Practice (second aditionl, applicable lo charitles preparing Ihelr acwunts in accordancè with the Finan¢lal Reporfng Standard IFRS1021. The Charity also trades under the name Woolwich Mosque. ObJectiv•s and activitles a. Policlès and objectives In setting objectives and planning for aclivilies. the Trustees have given due Gonsideratiov) lo general guidance publlshed by the Charity Commission relating to public benefit. Including the guldance 'Public benefit.. running a charlty IPB2)'. Maln Objectlves: Addressln the Dlverse N&èds of thÈ Local Musllm Communlt The main objective of the Greenwich Islamic Centre IGICI is lo idenltfy and meet the various neads of the local Muslim communlty, ensuring their wellfyeing and providing necessary suppc>rt. Promotln Understandin and Combatln Mlsconce tions.. GIC airns to counter misconcaptlons and mSsrepresentallon of IslAm by fostering genuin8 understandlng among the local non-muslim populalk)n. Thls obj8Ctive Involves bridging gaps and promoting dialogue lo crealg a h8m)onlDus coexislgnce. Nurturin Islamlc Educatlon for Youn Children: GIC is dedl¢ated lo educatsng young children, 4iJipping them wth the knowledge and values r¢qulred lo uphold and practice Islam in their daily lives. This objective focuses on piep8ring the future generation to presetve their faith and embrace Islamlc teachings. Cultlvatin an Incluslvè Environment for Interactions- GIC strives to establish a welcoming and inGIu8ive environment that facilitates meaningful interactions belween Muslims and non-muslims. The objeclive is to promote dialogue. foster mutual respect, 8nd build bridges of underst8ndlng within the local community- Providln S Iritual Soclal and Moral Su GIC alms to provide splrilual guldance. social engagement. and moral support to hAusllms and individuals of other faiths, irrespèctive of thelr age, race. or gonder. This objective emphasises the holistic development and well-belno of individuals frorn diverse backgrounds. b. Strategiès for achlevino objectives GIC carries out 8 range of aclivilies to make sure that the charitys o14actThies are met. Below is a summary of key acdwties carrièd out lo achieve GIC objectives. Page 2
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 ObJeGttve5 and actlvlties Icontlnuedl ¢. AGtivitie$ undertaken to achléve objoGtlves and main activitles undertaken to further thè Charlty's purpose$ for the public beneflt Dally Prayers: Th8 Graenwch Islamlc Centre IGIC) offers five daily prayers, providing Community access and 8nsuring facilities such as Reading Quran & Hadith, ablution areas, toilets. healing, and èlactricily are available for the comfort of worshippars. Frlday Prayer: Fridays are the busiest days at GIC. with a higher numbèr of visitors compared to other days. To accommoclate the inciease¢Y attendees ovèr 4.000 MLJslim Brothers and Sisters for the Friday Sermons. GIC ensures sufficient Spa and necessary facililics. Currently, two Friday sermons are conducted due lo an overwhelming incr&ase in allendccs as well as incorporating worklng Individuals whom are able lo allend during their breaks and free lime to pray Friday. Lecturqs and Guest Spèakèrs: GIC is always comrnitled and hosts daily and wè.Akly éducational and cultural services lo tha local Muslim cownmunilies understanding 8nd Irning about Islamic value i.e.: Lectures, primarily delivered by GIC Imams. Addilion811y, vlsiting lecturers aro o¢xasionally invited lo enrich the Gommunlly's knowledgè and learning experience. GIC also hav8 a Sisters Gifcles weekly program lo enhance education for famales. Madrasa for Chlldren: GIC operates a madrasa or aur'anic school within the mosque. catering to children's Quran and Islami¢ education lo equip them for Ihe hjture $0 as to preserve their identity and to help them practice Islam in their daily lives. A closing ceremony was held in Juty 2023 lor appreaation through awards and New Terms. For the new Term, the Madrasa was outsourced to a new Exlemal body. New Muslims: The community members acknowledged th& neèd to support the new Muslim8 in GIG. The cantre took the initiative lo provide seNiees and activities for th8 new Muslims. During this finArrial year 202212023. Twenty one paople had accepted the religion of Islam. GIC organlsed new Muslims welcome gathering, circles, trips. books and malerlals. Tha expènsas lo cover these activllles were £2k. Ramadan Actlvltlès: Ramadan Is Ihe busiest month for GIC. The centre organises and providas lfftar (the evening meal to break the fast) for an estimclte of over 400 attendees. Additional prayers called Taraweeh. whore the auran is recited, are also conducted wherèby eslimales of over 3000 individuals Muslim brothers & Sisters attend. GIC faalilales ltikaafh lexlended Stay in the mosque) and Tahajoud Ilatè-night prayer) during the last ten days of Ramadan for those who choose lo partlclpale. Eid Celèbrations: GIC ensu$ the community can fulfil their duly of allending both Eid-ul Fitr and EiLq-Ul-Adh8 prayers by organising a colleclive prayer galhetsng at MOD Barracks site WOOKCh. Rides and amusements are arranged for children and young people to gnjoy during these festive occasions. Fundralslng DinnÈrs.' GIC successfully hosts fundraising dlnners for both brolhers and sisters. raislng funds for construction pmjects. Vlslt My Mosque Inltlatlve: GIC actively participates in the "Visit My Mosque. initiative. organi88d by the Muslim Council of Britsin. Prior to the event, GIC advertises and invlles nèighbours, as well as stakeholders Such as the NHS, the Army. the Police, the Fire Brigada, the Roydl Borough of Greenwich, local MPS. and Counclllors. Funeral Sèrvlces: GIC has contracted Al Birr Muslim Funeral Services Lltj lo provide funeral service5, racognising the importance of this seryice to the hAuslim community. GIC Youth Contre and Cycling Club- GIC received HRM Queen's award in 2015, and GIC operat88 a youth Genlre that offers football, martial art. rock dimbing and outings in a safe and enjoyable environment for young peopla. Commissloned by the Roy81 Borough of Gre8nwich, this facility plays A vital role In countering youth violence and 98ngs.11 engages with youth who may have been dlfflcull lo reach through other seNices, focusing Page 3
GREENWICH ISLAMIC CENTRE {WOOLWICH MOSQUE) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 20 SEPTEMBER 2023 Oblectlves and actlvltles Icontinuedl on educational. recr88tional, social, and emotional development. Coh&$lvely Working wlth Règistered Charitlès: In GIC'S collaborative efforts wllh registered charllles One Ummah, Global Relief Trust. Islamic Relief, East London Mosque and Othgrs. GIC have successfully raisad funds foi various disaster relief initiatives. This report hlghllghls the contributions towards addressing the floods in Paklstan. Bangladesh. India and supporting earthquake victims in Turkey and SyTia. Greenwlch Sanctuary ProjeGI {GSP).' GIC has been commissioned by the Royal Borough of Greenwich lo deliver support services as part (Jf the Greenwich Sanctuary Project. The project aims lo assist SyTian refugees sellling under the vulnerable person relocation scheme. GIC provides pre-arrival preparaliorb. welcoming families into their new homes, conducting needs assessments, and offering support with various aspects such as financial assistan, heallhcaie. education. and integration into the wider socjely. The support continues for a period of years from their arriv81. GIC has delivered outstsndin9 SeNiS to Syrian families sinc8 December 2017. Sadaqah and Zakath {Donations to Poor and Needy).. The GIC is always committed to provide welfare support to anyone that is ollgSble to recelve it. During Ihe Flnancial Year 1slOclober 2022 - 30th September 2023, we were worting dosely wlh other charity organlsations to pay charity for Zakatul Filr {Fllrana) and send money to other countries that faced natural disasters such as th8 Earth Quake in Turkey and Syria took plac& in 202212023. The total money paid to these organlsations was £15,953. Qarda Hasana (intèrest free loans).. Tho Inleresl Free Loan from our community Is the main cor@ financlal support lo enhance developmenl of the construction projects ol the GIC centre. Dunno current financAal year, CIC made repaymev)l of the Qarda Hasana d8bt 'finan¢ial years October 2022 to September 2023". we managed to repay a totsl amount of £97,000 reducing thè débt lo £400,500 at the year end. d. Volunteers The charity expresses deep gralilude for the dedicatad commitment of its volunteers, who actively contribute to setvice prowsion, charity shops, and fundraising aclivilles. Throughout the year, 11 Is Èsllmated that more than 10.000 hours were generously volunteered. Considering a conservative valuation of £12.00 per hour. the coll8Ctive volunteer effort amounts to over £120,000. To oplimise the Valuable contributions of our volunteers, the Gharily has a Faulity ManagerNolunleer Coordinator. This role airlls lo ensuw the MamuM value is derivad from the 8xpIlOnal cfforts of our dedicated volunteers. Achievements and perforniance a. Kay performance Indicatob GIC r611os on rental incom8, donations and Qarda Hasana (Interest Frae Loans) from its s8rvic8 u80rs as a vital sourc8 of funding. Th8 primary fundraising pèriods in the GIC calendaT include Fridays, Ramadan. and the Eids (Eid ul Adha and Eid ul Filrl. Additionally. due to the ongoing extension proi&ct, fundraising dinners, and visiling other Masjid collections were organised for both brothers and sisters during this financial year. The community has actively participated and generously conlribulod lo thase fijndraising efforts. Page 4
GREENWICH ISLAMIC CENTRE IWOOLWICH PJJOSQUEI TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDFD 30 SEPTEMBER 2023 Achlevemènts and pgrformance (continued) b. Fundraislng 8Ctivitles and Income ganaratlon One of our notable accomplishments Is the successful complalion of Phase 1 B. whS¢h constitutes 900/0 of our extension project. along with the r8sumption of our hAadrasah School and GIC Scouts program. Furthermore, we achieved considerable suwss through multiple fundraising events fhat grealty contributed to our ongoing extensive construction proj8d. The financial rewjrt below provides a comwehensive oveNiew of the yearfs results. We are pleased lo report s2tisfactory progress Ihrou9hout the year and a favourable position al y88r-end. The increase in income can b8 atlribuled primarily lo various fvndraising events and an extensive virtual carnpaign conducted. This increase is also flected in the greater amount of gift aid recovered in rekbon to the donations receivod. The Cenlre's operational expenses are covered by public donations, Madrasah income. grants. various fundraising events, and our Funeral servi¢e ranlal income. Flnanclal revlew a. Golng concem After making appropriate enquirles. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operalionAI èxistence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial st8lemenls. Furthei details regarding the adoption of the going conrn basis can be found in the acwunting policies. b. Resèrvas pollcy The charity Is heavity dependent on voluntary income to support Ils operatlons. With the ongoing slgnificanl exlension project, the trustees have sat a goal of maintaining a r&serv8 equivalent to three months, worth ol running costs. This reserve Serves to accommodate short-lerm fluctualions in Income. The trusteos have astimaled that an amount of £75k Is necessary lo meet Ihis target. As of the year-end, the charilvs bank balances were sufficient lo cover this reserve requiremenL The charity geneIed a surplus of £342k {2022-. £534kl during the year. Al the year end, th8 total of unreslricled reseNes was £4m {2022.' £3.96m) and restricted reserves were £1.4m {2022: £1.1m). Prlnclpal risks and uncertaintles The chadtls primary risks include the potential loss of dats due to a cyber.atlaGk, which could result in non- ¢omplian¢è wlh GDPR regulatlons and damage to the charills reputation. To aédrèss these risks. the charity has implemented strong IT protocols 8nd established relevant polic48s lo ensure effodfve management and protection of data. d. Financlal risk management objective8 and policies The Irusleas hold the responsibllily ol identrfying and evaluating the risks that the charity may encounter. They are also responsible for implementing adequate controls lo reasonably safeguard againsl fraud and errors. As part of thelr duties, the trustees conducted a thorgh review of the significant slralegi¢. busirbess. and operational risks faced by the charlty. Systems have been established to mS1igate these risks, and regular evaluations wll be CO¢¢ed to ansure that these systems eff8clively meet the ¢hAritls requirernents. Page 5
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 Principal funding Thè chariws principal source of funding is donations receivad from members aNd l(Kal muslim communitiès. Structure. governancè and managem¢nt Constitutlon Greenwich Islamic cent Iwoolwich Mosque) is a règistered tharily. number 2713L11. and is constituted under a Trust deed. The primary objective of the charity is lo establish appropriate faalilies to serve ag a centre for the Muslim community residing in the Royal Borough of Greenwich and neohbourlng are<lS. The purpose of this ntre includes.. al Fa(xlilating prayer gatherings, b) Providing resources for the 188ching of the Holy Qur'an and rellglous educaUon, cl Promoting and spreading lslamlc brothèrhood, Quranic te2Ghings. Hadllh, and Islarnlc princlples and ideologies. dl Or9anising religious, e¢Jucalional. cultural, and sOCI81 lecturos. meetings. and seminars. b. Method8 of appointment or elgctlon of Trustaas The governance of the chartty 18 entrusted lo tha Truslees. who ale elected and co-optèd accordlng to the provisions outlined In ihe Constitution adopted on 31st August 1975, with subsequenl amements madé on 26th January 1990, 21st August 2004, and 13th January 2019.The minimum number of trustees required is 17, and the maximum is also set at 17. ¢. Organlsatlonal structure and declslon-maklng pollcies Trustees meet regularly to fom)ulal8 policies. assess risks and decide approprlale actions on issues facing the charily. The charity is adminislerod by the Board of Trustees as lisled on the refarences and adminislralive information section. The llustees delegate the day to day management responsibility to Staff, secretaries, the dlreotor and deputy director of the charity. d. Pollcles adoptèd for the indu¢tlon and tralnSng of Trustees The selection procass for new trusleas is based their polenlial contribution lo th8 governance of the charity and thè spedflc skills they bring to the table. Upon lolning. new trustees are provlded wilh copies of the Charity Commisslon's guldance for trustees and recaive an inlroduclion to the charitrfs 8clivilies from the existing board. They are also briefed on the charity's conslilution, current financlal status, and fijlure plans. This ensures that r)ew Éwslees are well-infomied and equipped to 8Ctlvely participate in the charitls 8ndeavours. e. Pay pollcy for key management personnel The charity has established a salary scale structure that is guided by varlous factors. including market comparisons, the level of Ir8ining. ne$sary skills and experi0n, afforéabifily for thè tharily, employee retention, and the overall r8muneralion policy. The ¢urrent pay scale aligns with market rates, ensuring a competitive compensation package for employees. Page 6
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2023 Structur¢J governancè and managoment Icontinuedl f. Related party Mlationshlps All the Iruslges work Is voluntary and nona of the Iruslèes recelvad remuneration or any other bènefits from the charity during the ye8r under revi8w. There have been no Irans8Ctions or d8allngs wlh any indiwdual8. enlities or kmjsinesses connecte(I to Irustéas or any other related partles. g. Flnancial risk management The Trustees havè assessed the major risks to which the Charlty Is exposed. in particular those related to the operations and fInanS of the Charity. and are satisfied that systems and procAdures are in pla to miligale exposure to the major risks. Plans for future pèrlods The management of GIC is highly committed to advan(xng th8 8xiension project of the centra, along wlth the necessary axlernal works such as drainage Improvements. 1st floor H811 completion of fixture and fittings, boundary wall installallon, and lan(Js¢aping. Th8 management has actlvely raised funds for these end&avours and is ple8sed to report that the collted amount align5 with the pledged Conlributions. Informatlon on fundrai8ing practicès Volun18ry donation from mosque attendees is Ihe main source of charitls income. The charity has not engaged directly with the general public to ask for funding nor Worked with a thiid party for the purpose of raising funds during Cur1 previous years. P8g8 7
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 statement of Trustéès, responslbilities The Trustees are rèsponsible for preparing the Trusteas, Report and the financial statements in 8Gcordancg with applic8bla law and United Kingdom Accounting Standards {United Kingdom GeTrerally Accepted Accounting Practice). The law applicable to ch8rllies In England & Wal8s requires the TrLJStees to prepare financial statements for eaeh financial year ¥vhich give a tNe and fair view of the stale of affairs of the Charity and of ils incoming rasour¢es and application of resources, including its income and expenditure, for Ihat period. In preparing th¥se linan¢i81 slalemenls. the Trustees are required lo.. selèct suitable ac£ounting pollcles and then apply them consislendy., observe the methods and prinaples of the Charities SORP {FRS 1021., maka judgments and accountlng estimates that are reasonable and prudent., state whether appli¢abl8 UK Accounting Standards IFRS 1021 have been followèd, subject lo any material dcparturas disclosed and explained in the finanual statements., prepare the financial statements on the going concern basis unle&8 it is inappropriate to presume that th8 Chadly will contlnuè in business. The Trustees are responslbla for keeping adequat8 accounting recorés that are sufflclenl to show and &xplain the CharItS Iransacliuns and disclosa with reasonable accuracy al any tima the financial position of the Charity and enable them lo ensure that th8 finanual staternenls comply wilh the Charities Act 2011. the Charity (AOUnts and Rèports) Regulations 2008 And the provisions of the Trijst deed. They are also responsible for Safeguarding the assets of the Charfty and hen¢& for taking reasonable steps for the prevention and detection of fiaud and other irregularities. Disc108ura of information to auditors Each of the parsons who are TruslÈes al the tlme when this Trust8as' Report is approved has confim)ed th81: so far as that Trustee is aware. there is no relevant audit infoTrnalion of which the cheri1S auditors are unaware, and that Trustee has taken all steps that ought lo have been taken as a Trustee in order io b8 aware of any relevant audit information and lo establish that the charitls auditors are aware of that inforrnalion. Auditors The auditors. A¢¢endo Consulting Ltd. have indicated their willingness to continue In office. The designated Truste8s wll propose a motion reappointing the auditors at o meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by. Sanam Mla Ichair ol Trustees) Dale.. 23 October 2024 Page 8
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) Oplnlon We have audited the financial ststemenls of Greenwich Islamic Centre IWodwiGh Mosguel Iihe 'charily'l for the year ended 30 Septswnber 2023 which comprise the Slalement of Financial Adivitiès, the Balan Sheet. the Statement of Cash Flows and the related noles, induding a summary of significant accounting policies. The financial rèporting framework that has beèn applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Rcporbng Standard 102 'The Finan¢idl Reporting Standard applicable in the UK and Rèpublic of Ireland, {United Kingdom Generally Accepted Accounting Practice). Th8 flnancial 8t8temenls have beon prepared in accordance with Accountlng and Reportlng by Charitiès preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities., Statement of R8comtnended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has been wilhdrawn. Thls h8s been done in order for the accounts lo provide a true and fair view in accoTtlance with the Generally Accepted Accounting Pr8cllco effective for reporting periods beginning on or Bfter 1 January 2015. In our oplnion tha financial statements.. glva a true and falr view of the $18te of the Gharitls affalrs as at 30 September 2023 and of its incoming resources and application of resourccs for the year then ended., have bèan properly prepared in accordance wilh unit Kingdom Genèrally Accepted AGwunling Practice.. and have been prapared In accordance with the rèquirements of the Charities Act 2011. 8asis for oplnion We Conduct our audll In accordance with Inlernallon81 Stsndards on Auditing (UK) IISAS IUKII and applicable law. Our résponsibilities under those sl2ndard5 are further described in the Auditors. r8sFK)nsibilities for the 8udit of the financial statem8nts section of our report. We ar8 independent of the charity in aceord8nce with the ethical requirements that are relevant to our audit of the financlal statements in thè United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordancè with these requirements. Wè believe that the audit Évidance we have obtsined is sufficient and appropriate to provide a b8sis for our opirbion. Conclu$lons relatlng to golng concern In auditing the financi81 slalements. we have ¢onclud@d that Ihe Trusteès, usa of the golng (x)nc8m basls of accounling in the pr8parallon of the flnanclal sl8temenls Is appropriate. Based Dn the wort¢ we hav8 performed, we have not idenlifiecl any material uncertainties relating lo events or conditions that, individually or collectively. may cast significant doubl on the Charitys ability lo continue as a going concem for a period of al least twelv& months from when the financlal slal8menls are authoris8d for issu8. Our responsibilities and the resp)nsSbl1ities of the Ttustees with respect to going ¢on¢ern are described in the relevant seGtions of this report. P8gè g
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) {CONTINUEDI Other informatlon The other information comprises the information included in the Annual Report other than the financial statements and our Auditors. Report thereon. The Trustees are responsible for the other information contsined ilhin the Annual Report. Our opinion on the fjnancial statements ¢Joés not cover the other inforwnallon and, except to the extent olhewwse explicitly stalèd in our report. we do not cxpress any form of assurance conclusion there(. Our responsibility ig lo read the other information and, in doing so, consider whether Ihe other InfmatIOn is matarially inconsistent with the finan(xal stalern@nls or our knowledge obtained in th8 course of the audlt. or otherwis¢ appears to be materially misstated. If we Identify such material inconsisfiencies or apparent material misstatements. we are required to d8t8imine whether this gives rise lo a malarial mlsstatemenl in tha finallual slalemenis themselves. If, based on th8 work we have performed. we conclud8 that there is a material misslaloment ol this other information. we are required lo report that fact We have nothing to report in this regard. Matters on which we are requlrod to report hy éxception We have nothing to report in Spect of the folbwing matters where the Charili8s (Accounts and Reports) Regulations 2008 requires us lo report to Y if. in our opinion= the Information given In th8 Trustees. Report is inconsistent In any material respect with the flnanclal ststem8nls.' or sufficient auntIng records have not been kept.. or the financial statements are not in agreement wth Iha aceounling records and returns., or we havg nol received all the information and explanations we require for our audit. Responsibllltles of trustee$ As explaSne(J more fully in the Trustees, Responsibilities Statement, th8 Trustees are responsible for the preparation of the financial statements which give a tnje fair wew. and for such intemal eonlrol as th8 Trustees deterTnine 15 ne¢essary to enable the preparation of financial staternents that are free from. material misslalemenl, whether due to fraud or etror. In preparing the financl81 stalemenis. the Twsl88s are responsible for as&$ing the charivs 8bility lo continue as a going concern, disclosing, as applicable, matters relaled to going conc£rn 2nd using the going concern basis of accounting unless the Trustees gither intend to liquidate the charity or to cease operations, of have no realistic aliernalive bul lo do so. Page 10
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF GREENWICH ISLAMIC CENTRE {WOOLWICH MOSQUE) (CONTINUED) Audltors. responsibilities for the audlt of the financlal statements We have been appointed as auditor undar section 144 of the Charities Act 2011 and report in accordance wffth the Act and relevant iegulAtions made or having effect thereunder. Our obje¢lives are lo obtain reasonable assurance 8boul whether the fin8nclal st8lements as a whole are fre from matarial misslalemenl, whether due to fraud or error, and lo issue an Auditors, Report th8t indudes our opinion. Roas(M)able assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always delect 8 material misstatement when 11 exists. Misstatements can arisè from fraué or error and are consld8red material If. individualty or in the aggregate, th8y could reasonably be expected lo influence the economic decisions of users taken on tha basis of Ihes8 financial statements. Irregularities, including fraud. are instances of non-compliance with laws r]nd regulations. We design procadures in line with our responsibilities, outlined above. lo delect material misslatèmenls in respect of irregularities. Induding fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud detailed below.. Extent to whlch tho audlt was considered capable of detècting irragularltles, including fraud: We idenlify and assèss the risks of material misstatement of the financial stslements. whgther due lo fraud or error, and then design and p8rfomi audit procedures responsive lo thosè risks, including obtaining audit evidence that Is sufficianl 8nd approprlale lo providg a basls for our opinion. Idgntmylng and assesslng potontlal rlsks rolaled to Irregularltles.. In identrfn and assesslng rlsks of material misslalemenl in respect of irreuuladU&s, Including fraud and non compllance with laws and regulations, we considered tho following.. The nature of the industry and sector. control énvironment and business perfomiance including the dèsign of the entitS Temuneration policies, results of our enquiries of management about their own identification and assessment of the risks of iTregularilies and any mAtl8rs we idenlifEd having reviewed the entitls policies and procedures.. the mallers discu888d Among the audit engagement 168m regarding how and where fraud might oGcur in the ffinan(xal slalemenls and any potential indicators of fraud. As a rcsull of thes8 procedures, we consldered thè opportunlties and IncenVe$ that may exist withln the organlsalion for fraud and identified thè greatest potenllal for fraud in relation lo revenue recognitlon. In common with all audits under ISAS {UKI. we are also required lo perfomi speclfic procedures lo respond lo th8 risk irf managément ovetride. We also obtained an understanding of the legal and regulatory frameworks that th8 charity operates in ar focused on those laws and regulations that had a direct effècl on the determination of material amounts And disclosures in the financial statements. The key laws and regulations we considered in this contsxt included the Charities Act 2011. Audit response to risks idenllfied.. As a result of performing tha above. we Identified revenue recognition as key audit matter related to the potential risk of fraud. Our procedures lo respond lo risks identlffied induded th6 followlng.. reviewing the finanal slalemenl ¢Jisdosures and testing lo supporting documentation to assess complianc th provisions of relevant laws and regulations described as having a direct effect on the financial statements- enquiring of manaoemenl, conceming actual and potential liligalion and daims; Page lfj
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) ICONTINUEDI performing analytical procedures to Klentfy any unusual or unexpected relatnShIpS that m8y indicat8 risks of matèrial misslalemenl due to frdud,. obtaining an understanding of provisions and discussing wlh m8n8gement to understand the basis of recognition or non-rècognilion of provisions- and in addrèssing the risk of fraud through management override of contro15, testing the appropriateness of journal entlles and other adjustrnents,. assessing whelher the judgements made in m8king accounting estimates are indicative of a sx)¢enlial bias., and evaluating th8 business rationalè of any si9nificant transactions that are unusual or outside the normal course of business. We also communiGated relevant Identifiéd laws and regulattons and potential fraud ri.%ks to 811 angaoement team members and rernain8d alert lo any indications of fraud or non¢ompliance with laws and règulatlons throughout th8 audit. Because of th8 inh6renl limitations of an audit, there Is a risk that we will not detect 811 irregularities, including those leading to a material misstatement in the financial ststemènls or nonwcomplianco wlth regulation. This rlsk inease$ the more th81 Compliance wlh a law or regulation is removed fmrn the events And transaclions reflected in the financial slalèments. a5 we wlll be less likely to becom6 aware of instances of non4ompliance. The risk is also orealer r8garding irregu18riliÈs occurring due lo fraud r8lh6r than ermr. as fraué involves intentional GOnalment, forgery, collusion. omission or misrepresentation. A furthér description of our responsibilities for Ihe audit of the fin8ncial statements is loGated on the Financlal Reporting Council's website al: www.fr¢.or .uklaudllorsres onsibilllies. This description forms part of our Auditors, R8POrt. Usa of our report Thls report is made solety to the charills trustees, 8s a body, in accordance with Part 4 of the char1&S (Accounts and Reports) Regulations 2008. Our audit WOTk has been undertaken so that wa might stale lo the charills ITU51ees those m811ars we are required lo stale lo them in An Auditors, Report and for no other purpose. To the fullest éxlenl permitted by law, we do not accept or assume rcsponsibilily to anyone other than the charity and its trustees. as a b(Kly, for our audit worf(. for this report, or for the opinions we have formed. AG¢endo ConsultSng Ltd Chartered Certified AGcountanls & Slatulory Auditors 23 October 2024 Accendo Con5vlting Ltd are egible to act a8 auditors in terms of secon 1212 of the Companies Act 20. Page 12
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestricted funds 2023 R&strictad funds 2023 Total funds 2023 Total funds 2022 Notè Income from: Donations and leg8cles Charflable activltles Investmcnts 687.395 24.214 1,463 7,700 332,464 1,019,859 24,214 1,463 7,700 t, 155.430 13,342 303 4,800 Other income Total Income 720,772 332,464 1,053,236 1, 773,875 Expendlture on: FL9ising funds Charitable aGtlvltles 72,571 606,872 72.571 634,733 26,188 613,616 27.861 Total •xp•ndlture 679,443 27,861 707,304 639.804 Net movement in funds 41,329 304.803 345,932 534.071 Reconclllation of funds.. Total funds brought forward Nel movement in funds 3,964,277 41,329 1.134.556 304.603 5,098.833 345.932 4,564.762 534,071 Total funds carried fOnard 4,005,606 1,439,159 5.444.765 5.098.833 The Stst8rnent of FinanGlal Activities includes all gains and losses recognised in the year. The notes on pages 16 10 30 fomi part of these flnancial slalernenls. Paga 13
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 Note Fixed assets Tanglble as8818 14 5,713,477 5,328,473 5.713.477 5,328,473 Current a8Sats Debtors Cash al bank and in hand 15 134,566 176,325 346 116,643 310.891 116,989 Cr8ditors'. amounts falling due wthin one year 16 (579,6031 {346.629J Net current Ilabilitios {268.7121 {229,S40) Total assgt$ less current Ilabilltl•s 5,444.765 5,098,833 Net assets oxcluding ponslon asset 5,444.765 5,098.833 Total nat assets 5,444,765 5,og8,833 Ch8rlty funds Restrl¢iÈd funds Unrestricted funds 18 18 1,439,159 4,005.606 1, 134.556 3,964.277 Total funds 5,444,765 5,098.833 Th8 financial statements were approved and authorised for issue by Ihe Trustees and slgned on their behalf by.. Sanam Mi (Chair of Trustees Dale.. 23 October 2024 The notes on pages 16 10 30 form part of these financial statements. P8gè 14
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Cash flows from operatlng actlvltles Net cash used in operating activities 572,323 686,348 Cash flows from Investing actlvities Purchase of tangible fixed assets {512,641) [666.359) Not cash used In Inv8sting actlvltles {512,641) {666,3591 Cash flows from flnancing actlvltles Cash irbflows from naw borrowing (T7,800) Net cash provided byllused In) flnancing actlvltl8S 177.800) Change in cash and eash equlvalent$ In the year Cash 8nd cash èquNalents at the beginnlng of tha y@ar 59,682 157,8111 174,454 116.643 Cash and cash equlvalent5 81 th• énd of the year 176.325 116.643 Tha notes on page8 16 10 30 form part of these financlal slalemgnts Page 15
GREENWICH ISLAMIC CENTRE (WOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 General Infonration The enbty is an unincorporated tharity registered with tha Charity Commission in England {Registralion number 2713011. The entity's registered offKe which is also a principal place of business is at: 131 Plumslead Road London SE18 7DW. AGGountlng polldès 2.1 Basls of preparation of financial statements The financial slatemenls havè an prepared in accordan with the Charlties SORP IFRS 1021 Accounting and Raporting by Gharflle$'. Statement of Recommended Pra¢li¢e applicable to ¢hariti8s preparing their accounts in accordance wllh the Fir)ancial Reportlng Standard applicable in th8 UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}, th8 Flnanclal Reporbng Slandaré applicable in the UK and Republic of Ireland IFRS 102) ané the Charities A¢1 2011. The financial statements have béèn prepad (o give a 'lrue and faiv Mew and have dep8rted from the Charities (Accounts and Reports) Regulations 2008 only to the exlenl reouired to provide a 'lrue and fAiI view. This departure has involved following the Charities SORP IFRS 102) published in Oclobor 2019 rather than the Accounling and Reportin9 by Charities.. Statement of Re¢ommended Practice effective from 1 Awl 2005 which has since been withdrawn. Gr88nwch Islamic Centre (w1¢h Mosque) meets the definition of 8 public b8n8fit entilw under FRS 102. Assets and liabilities are initially rocognlsed at historical cost or Iransactlon value unless olhetwise ststed In the relevant a¢¢ounling policy. 2.2 Incom8 All income is recognised once Ihe Charity has entitment lo the income, il is prob8bl8 that the income will be received and the amount of Income receNable can be measured reliably. GrAnts are includcd in the Statement of FinanGial Activities on a re¢eivable basis. The balance of income received for spectfic purposes but not expènded during the periLMJ is shown in the relevant funds on the &an Sheet. Wh@Te income is r8c8ivtsd in advance of enlitlgmènt of r8ceipl. ils recognition Is dafarred and IGded in creditors as deferred income. Wherg entillcmenl o(Lurs before income is recelved, the Income is accrued. Income tsx recovorable In ralation to Inve5trnent income is recognlsed al tha tim8 the investrnenl inwme is r8caivable. Other income is recognised in the period in which it is recelvable and lo the exlenl the goods hav8 been pmvided or on completion of the seNlce. 2.3 Expenditure Page 16
GREENWICH ISLAMIC CENTRE (WOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng policies {contihuedl Expanditure is recognised once the Is a legal or Constructi obligation to transfer economi¢ benefit to a third party. il is probable that a transfer of economic benefits wll be required in sattMent and the amount of the obligation can be measured reliably. Expendituré is classified by activity. The costs of each activity 8ra made up of the total of direct Costs and sharcd cosls, including support costs Invod in undertaking each 8tttivity. Direct costs allribuiable to a single 8clivily cire allo¢ated diTe¢lly to that a¢livity. Shared costs whith contribute lo more than one activity and support costs which are not atlribut8ble lo a single activity are apportionel between thosè 8Ctivities on a basis Gonsistenl with the use of iosources. Central slafl costs are alloeAted on the basis of tlme spent, and éeprÉciatiorb charggs allocated on the portlon of th8 asset's use. Expenditure on ralsing funds includes all expÈndllure incurred by tha Charlly lo rals8 hjnds for ils charitable purposes and includes costs of all fundraising activities evenls and non-charitable trading. ExperKliture on charitable activities is inGurred on direcuy undertaking the aclivilies which fvrther the Charitls objectives. as well as any asso(iated support costs. All expenditure is inclusive of irre¢overable VAT. 2.4 Interest receivable Interest on funds hald on deposll is included whan recelvable and the amount can ba mèasured rellably by th8 Charity., this Is normally upon notlficalion of the Inl8r&sl pald or payablè by th8 Institution with whom the funds ar8 deposited. 2.5 Tangible fixed assets and deproGlatlon Tangible fixed assets costing £NIL or more are capit81ised arKI recognised when future economi benefits are probable and the cost or value of the asset Gan be measured rgliably. Tangible fixed assets are initially recogni.qèd at cost. After re¢rnItIon, under the Cost model, tangible fixed assets are measured 91 cost less acLumulaled depreciation and any acMUlated impairment losses. All costs incurréd lo bring a Isngibla fixed asset Into its intended working condition should be included in the measurement of cost. Depraciatlon is Gharged so as to allocate the cost of tanglble flxed assets less thelr residual value Over their estimated useful lives. Depreciation is provided on the following basas.. Freehold property Plant and rnachinery Fixtures and fillings Computer equipment 20k on cost 25% on reducing balance basis 2.6 Debtors Trade and other debtors are recognised at the settlement amount aftèr any trade discount offered. Pr8payments are valued 8t the amount prepaid net of any trad8 dlscounts due. Pag8 17
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 A¢countlng polieies {continuedl 2.7 Cash at bank and in hand Cash al bank and In hand includes cash and short4errn highly liquid investments with 8 short maturity of three months or less from the dale of acquisition or opening of the daposil or similar account. 2.8 Liabilities and provlsions Llabililigs are recogni8ed wh8n there is an obligation at the Balancé Sheet dale as a resum of a past event. it is probable thal a Iransler of economlc ben8fil wlll be required In selllement. and the amount of the settlement can be estimalecl r81i8bly. Liabilities are recognised al Ihe amount that thé Charity anticipates il will pay to settle the d8bt or the amount il has received as adVand paymen15 for tho goods or services il Jnusl prowde. Provisions are measured al the besl estlmale of the amounts required lo sellle the obligation. Where tho effe¢l of the time value of money is matérial. the provision is based on thè presant value of Ihose amounts, di5Unted at the pre-tsx discount rate that rellecls thè risks specifio to the liability. The unwinding of tha discount is recognised in the Statemenl of Financial Activities as a finance cost. 2.9 Finanrlal Instruments The Charity onty has fir)an(ial assets and flnancial liabillues of a kind that qualify as basic financlal Instruments. Basic financial Instrum6nls are initially recognised 81 transaction value and subsoquently measured al their $8ttlem8nt value with the exception of bank loans whlch are subsequently measured at amortised cost using the effective interest method. 2.10 Pensions 2.11 Fund accountlng General funds 8re unrestricleé funds whlch ar8 available for use al the discretion of the Trustees in furthardnce of the general obl8ctives of the Charity and which have not been designated for oth8r purposes. Reslrictod funds are funds which are lo be us8d In accordance with speafic reslridlons Imposed by donors or which have been raised by the Charily for particular purposes. The costs of raising and administering such funds are charged against the spe¢ifio fund. Th8 aim and us8 of each restricted fund is sel out in thE notes to the financial slalemgnls. Investment income, gains Snd losses are alloGakd to the appropriate fvnd. Page 18
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Crltlcal accountlng estlmates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and olhei factors. Including expeclatlons of future events th81 are believed to be reasonable under the circumsl8nc8s. Critical accounting e51imales and assumptions.. The Charity makes estimates and Bssumplions conceming the future. The resulling accounti eslirNal8S and AqqiimrsliThnq will. hv dèfinltion. seldom eaual the rèlated actual results. Income from donatlons and legaci•$ Unrestri¢tad funds 2023 R•strict•d funds 2023 Total funds 2023 Donations 585,415 101.980 332,464 917,879 101,980 Grants 687,395 332.464 1.019.859 Unreslricled runds 2022 Rostricle funds 2022 Total funds 2022 Donabons 584,422 226,941 344,067 928,489 226,941 Grants 811,362 344,067 1, 155,430 Page 19
GREENW]CH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Income from charltablè actlvlties Unrestrlcted funds 2023 Total funds 2023 Income from charitable activities 24,214 24.214 Unrestrictéd funds 2022 Tolal funds 2022 Income from charitable activities 13,342 13.342 Investment Income Unrestrlcted funds 2023 Total funds 2023 Investment Income 1,463 1,463 Unreslrict8d funds 2022 TotBI funds 2022 Investment incorn8 303 303 other Incomlng resources Unre5tdcted funds 2023 Total funds 2023 Other incoming resources 7,700 7.700 P8ge 20
GREENWICH ISLAMIC CENTRE (WOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 0th8r Incomlng reSoUeS l¢ontlnu8dl Unrestriclad funds 2022 rot81 funiys 2022 Other incoming resourc&s 4,800 4,800 Expendlturè on ralslng funds Costs of raising voluntary Income Unrestricted funds 2023 Total funds 2023 Costs of r85slng voluntary income 72.571 72,571 Page 21
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Expendlture on ralslng funds (continued) Costs of raising voluntary income Icontlnued) Unrestricted fvnds 2022 Total nds 2022 Costs of raising voluntary Income 26.188 26, 188 Analysis of expendlture on Gharitablo 8Ctlvlties Summary by fund typa Unrestrictod Restrictttd fund5 funds 2023 2023 Total 2023 Charitable activities 606.872 27,861 634,733 Unrestricleij funds 2022 funcls 2022 Tot81 2022 Ch8ri18ble 8ctlvllles 588,326 25,290 613,616 10. Analysis of expèndlture by actlvitlas Actlvltles undertaken dlrectly 2023 Support Costs 2023 Total funds 2023 Charitable activities 78,748 555,985 634,733 Page 22
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. Analysls of expendlture by activities Icontlnuedl Activities undertaken dlreG¢Iy 2022 Support costs 2022 Total funds 2022 Charitable actsvitles 34,780 578.830 613,616 11. Auditors, remuneratlon 2023 2022 Fees payable lo the ChaTills auditor for the audit of the charits annual accounts 4.000 3,700 12. Staff costs 2023 2022 Wages and salaries Social security Costs Contribution to defined contribution pension schemes 255,704 10,173 2,140 284.367 16. 133 1.548 2fj8.017 302,048 The average number of persons employed by the Charity during the year was as follows.. 2023 No. 2022 No. charitab activities 25 25 No employ68 racaived remuneration amounting to more than £60,000 in ellher year. 13. Trustees. remunoretlon and exponses Page 23
GREENWICH ISLAPIIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 During the year, no Trustees recelved any remuneration or other beneflts (2022- £NILJ. During the ygar ended 30 September 2023, Trustee expenses have been incurred (2022- £NIL). Page 24
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER2023 14. Tanglble flxed assets Freehold propérty Plant and Flxtures and machlnory fltllngs Computer equipment Total Cost or valuatlon Al 1 October 2022 Addlllons 5,768,607 507,924 4.404 105,944 2,245 4.717 5,881,200 512,641 AI 30 September 2023 6,276.$31 4.404 105.944 6,962 6,393,841 Depreciation Al l October 2022 Ch2rg2 for the year 460,045 121.480 92,882 6,157 552,727 127,637 At 30 Seplemb8r 2023 581.525 98.839 680,364 Nèt book value At 30 September 2023 5,695,006 4,404 7,105 6,962 5.713,477 At 30 Septembèr 2022 5.308.562 4,404 t3.262 2.245 5,328.473 15. Debtors 2023 2022 Due wlthln on8 year Olher debtors Prepayments and acLrued income 133,933 633 346 134,566 Cr8ditors- ATnounts falling dua withln one year 2023 2022 Trade creditors Othèr taxation and social security Other creditors Accruals and delerred income 30.941 15,610 422,596 110,456 47.661 7.994 283,326 7,648 Page 25
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 16. Credltors: Amounts falling due wlthln on& year Icontinu8dl 2023 2022 579.603 346,629 17. Finan¢lal Instruments 2023 2022 Flnanclal assats Financi818SSÈts measured al tsir value through income and expenditure 176,325 It6.643 Page 26
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 18. Statement of funds statement of funds . current year Balancè 4t 30 Sèpt8mbor 2023 Balance at 1 October 2022 Incomè Expanditure Unrestricted funds General Funds- all fUS 3.964.277 720,772 1679,4431 4.005.806 Restrfcted funds Restricted Funds- all funds 1.134,556 3324 127,8611 1.439,159 Total of fund$ 5,098,833 1.053.236 1707.3041 5,444,765 Page 27
GREENWICH ISLAMIC CENTRE {WOOLWICH MOSQUE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 18. Statement of funds Icontlnuedl Statèment of funds - prior year Balance Balance al 1 October 2021 30 September 2022 Incom& Expendilure Unrostrlcted fund$ General Funds- all funds 3,749,255 829,808 (614.786) 3.964,277 Restrlcled fund5 Restrirt8d Funds- all funds 815.507 344.067 (25,018) 1, 134,556 Total of funds 4.564.762 l. q73.875 (639,804) 5,098,833 19. Summary of funds Summary of fund8 . currant year Balanc8 at 30 Septembèr 2023 Balance at 1 Octobèr 2022 InGome Expenditure General funds Restricted funds 3,964,277 1.134,556 720,772 332,464 {679,443) 4.005,606 127,861) 1,439,159 5,098.833 1.053,236 {707,3041 5.444.765 Pag8 28
GREENWICH ISLAMIC CENTRE IWOOLVItCH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 19. Summary offunds Icontlnuedl Summary offunds- prioryear Balance al 30 September 2022 Salance 81 f October 2021 Income Expenditure General lunds Restricted funds 3.749,255 815,507 829.808 344,067 (614,786J 3,964.277 (25,018J 1, 134,556 4.564,762 1. 173.8T5 (639,804J 5.098,833 20. Analysls of net assets bgtween funds Analysis of nét assets between funds - current ygar Unrostricted Rostrietèd funds funds 2023 2023 Total funds 2023 Tangiblè fixed assets Current assets Creditors dve within one year 3,999,015 1,714,462 5,713,477 185,694 125,fj97 310,891 (179,1031 {400.5001 {579.6031 Total 4.005,606 1,439,159 5,444,765 Analysis of nat asset5 between funds - prlor yoar Unreslrlcla funds 2022 R8strlcled funds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 3,976,500 100.220 (112.443) 1,351,973 5,328,473 16, 769 116.989 (234, 186) {346.629J Total 3.964.277 1, 134.556 5,098,833 Page 29
GREENWICH ISLAMIC CENTRE IWOOLWICH MOSQUE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 21. R&conciliatlon of net movèment In funds to net cash flow from operatlng a¢tlvlties 2023 2022 Net incom8 for the year {as per Stslemonl of Financial Activities) 345,932 4,071 Adlustments for: Deprecialion charges Decreasellincreasel in debtors Inu8aselldecrease) in creditors 127,637 {146,9401 245.664 89,179 123,377 (60.279) Net cash provided by operatlng actlvltles 572,323 686,348 22. Analysls of Gash and cash equlvalents 2023 2022 Cash in hand 176,325 t16,643 Total cash and cash oquivalents 176,325 116.643 23. Analysls of Changes In net dgbt At1 Octobèr 2022 Cash flows At30 S9Ptember 2023 Cash al bank and in hand 116.643 59.682 176,325 116,643 59,682 176,325 24. Penslon commltments The charity operates a defined cDnlribulion pension scheme. The assets of the schema are held separately from those of the charity in an independently administered fund. The pension cost charge represents conlributions payable by the Charity lo the fund and arnounled to £2,140 {2022.. £1,5481- The balance of £9Q9 {2022: £2141 was payable lo the fund 8t the balance sheet date and is induded in creditors. Page 30